On February 9th, industry experts and artists called out Streamer.fm and NFT Music Stream on social media. The unauthorized streaming service provoked a storm of criticism for cutting corners. Some musicians protested against HitPiece, a controversial NFT platform. The protest happened almost a week before this incident.
The NFT Music Stream has become widely known on the blockchain. However, it allegedly offers music on its platform without the knowledge or permission of the artists. As an NFT music streaming service, the platform supposedly steals data from third-party music streamers and uses it to mint artists’ music.
On its website, NFT Music Stream states that it is a private company. The company explains that it “cuts out the middleman” to allow artists to benefit directly from their music content. It pointed out that it has started a decentralized music distribution and royalty management system. The approach will enable it to offer better rewards to artists and their websites.
Previously, NFT Music Stream advertised other offers besides music content on its social media pages. The company stated that users could stream The Weeknd, Megan Thee Stallion, Olivia Rodrigo, and similar content from its streamer.
Currently, NFT Music Stream is accepting investors to improve its streaming service. The streaming service developed a balanced distribution system to allow equal rewards for artists, distributors, and fans. Also, it plans to launch its NFT platform to help artists create and sell music.
The streaming service’s streamer has gone under reconstruction during this publication. As a result, the names of artists that have been added as part of the platform were not available. Fortunately, several musicians shared images as evidence that their music is on the platform. Among them are Philippe Auclair and NicDroid.
Following the call out, NFT Music Stream re-stated its mission and objectives on social media. The company claimed that many users misunderstood the aim of the project. It explained that the platform’s goal has been to help artists receive most of the streaming profits from their music. NFT Music Stream stressed its willingness to achieve the goal.
The company explained via Twitter that its objective is to create a better future for artists. It claimed that through NFT distribution, artists could keep 98% of their streaming profits. NFT Music Stream pointed out that many artists do not clearly understand NFT. The platform promised to address all the issues raised by the musicians.
According to the company, it will release a statement to clear up any concerns. It affirmed that the platform wants to support musicians and described NFT as the future of music distribution. It stated that the platform would respect any artist’s decision to opt-out of its services, the artist should email the company. By the way, we suggest you read about Digital innovations to interact with fans in the music industry.
Several artists have expressed varied opinions about NFT and the future of music. However, artists like Slipknot, John Legend, Steve Aoki, Mike Shinoda, and others have launched their NFTs. These artists have established music platforms on the blockchain. Besides NFT, you can support your favorite artists via other means. You can buy the artist’s merch, attend their live and virtual gigs, and participate in initiatives like Bandcamp.